NB Bancorp (NBBK) Q4 2025 earnings summary

Executive summary

• Net income for Q4 2025 was $7.7 million ($0.19 per diluted share), down from $15.4 million ($0.43 per share) in the prior quarter, mainly due to $15.7 million in merger and acquisition costs and a $2.1 million BOLI surrender tax and penalty.

• Operating net income, excluding one-time charges, was $21.2 million ($0.51 per diluted share), up from $16.0 million ($0.45 per share) in the prior quarter.

• Completed the acquisition of Provident Bancorp, Inc. and BankProv, adding $1.42 billion in assets, $1.23 billion in loans, and $1.13 billion in deposits.

• Announced a share repurchase program for up to 2,288,509 shares (5% of outstanding shares) and declared a $0.07 per share quarterly dividend.

Financial highlights

• Net interest income rose 22% quarter-over-quarter to $58.8 million; net interest margin expanded 14 bps to 3.92%.

• Gross loans increased 26.9% to $5.99 billion; total deposits rose 28.2% to $5.85 billion.

• Book value per share was $18.77; tangible book value per share was $17.98.

• Noninterest income increased 19.6% to $4.4 million, driven by higher swap contract income and customer service fees.

• Noninterest expense rose 61.8% to $49.3 million, mainly due to merger costs.

• Operating return on average assets was 1.35%; operating return on average equity was 10.51%.

Outlook and guidance

• Management expressed optimism for 2026, citing successful integration of Provident and continued organic growth in loans and deposits.